Metaorigin AI- Automated Vehicle Inspection
Car Insurance companies are known to be the most ancient and efficient industries ever. Due to the high rise in the insurance rate that people are opting for, the industry has started to get a lot of claims by the individuals. In the contemporary era when we thrive on modernity, becoming hi-tech has become almost a necessity to survive in the current world.
Many of us spend our savings and hard-earned money to get our dream car, now it is more than obvious that after spending a ton of money on that particular thing, a person will opt for insurance. Initially when the world was simple and well, technology deprived, the car insurance companies used to check the damage manually, in many cases the real issue was not even able to be reported, however, in modern times, with the arrival of numerous artificial intelligence technologies have made the work of the insurance companies easier.
The numerous methods used are natural language processing, computer vision and lastly machine learning, now before we proceed forward it is very important to throw a glance at what artificial intelligence and machine learning is.
What is Artificial Intelligence?
Artificial Intelligence, also known as AI is a computer program that mimics how the human brain learns and solves different problems. It is a technology where computers behave as if they have used human intelligence to perform certain tasks which reduce human efforts and dependency. In other words, it is a computer working in spheres where human intelligence is required. A machine achieves this intelligence through the process of Machine Learning.
What is Machine Learning?
Machine Learning is the branch of study that provides computers with the proficiency to learn without being explicitly programmed. ML is regarded to be one of the most unique technologies that one can ever come across. As derived from the name, it provides computers with the attributes or features that create a similarity between the machines and the human. The ability to learn easily. Machine learning has been widely adopted all around the world and is being used currently more than one can ever imagine.
- Narrow Artificial Intelligence
Also referred to as weak AI, this sort of Artificial Intelligence works within a limited context and is a duplication of human Intelligence. The main aim of Narrow AI is to focus on one task at a time so that the execution is performed smoothly. While the machines may give off an impressive image, they are working under a lot of pressure and limitations as compared to the human mind.
Narrow Artificial Intelligence is a widely used form of AI in the contemporary era. The main aim of Narrow AI is to perform some specific tasks but to deliver the result as desired, a few examples of Narrow AI that humans hugely rely on currently are Damage identification Google, Siri, Image recognition techniques etc.
The most significant example of artificial intelligence in the current time is damage identification. Both Insurance and salivating the vehicle heavily rely on AI to detect the damage caused in order to create an estimate of the approximate value of the damage that has been caused. From a minor scratch on the windshield of your car to heavier damage, AI can detect even the minutest damage that stands far away from the human eye to be noticed.
The methods used extract data which are omnipresent from various source to feature a better-dug data insight and customised plans to their clients according to their desired needs.
Now the question is how does AI actually work on damage inspection?
How Does Damage Inspecting AI of Metaorigin Works?
Usually, the majority of the car insurance companies are taking a check on the vehicle and inspecting them in these four steps.
1. 360° Scanning
The vehicle is placed and made sure that it is not in motion while it gets automatically scanned. The ideal time it takes it up to 3–5 seconds to inspect the entire vehicle, it works at the speed of 15 km/hour. A timeless drive takes place through the CCTV cameras and sometimes through mobile walkarounds to get a crystal clear picture of the vehicle.
2. Damage Identification/ Analysis
In this procedure, the machine takes the holistic view of the vehicle and then proceeds with comparing and damage exposure. Deep learning and professional labelling just by the expert.
This process reports about the state or damage of the vehicle through the web interface, mobile app or directly via an API. There are no chances of the false report as we use the BlockChain secured feature. Apart from detecting, our unique AI also reports about the cost estimation of replacement or repairing the damaged part.
4. Management objectives
Metaorigin will help you in managing your fleet, tracking your activity and follow your key performance indicator.
This special AI created by Metaorigins will eradicate the problem of visual inspection by automatically detecting the damage in a particular severity. Come on board with us and start working smartly with our unparalleled AI services.
After the car insurance, renting vehicles has now become a very common thing in the contemporary era where we are living in a world full of technology. The economy of car rental companies has started booming since the trend of the road trip came into action and it has not got off of the mind of people even now.
A large number of cars have started renting which is giving rise to many budding startups now, however, due to a large number of renting cars not only at one particular place but in all the parts of the country, it has become almost impossible for the companies to check the status of the vehicle before and after renting manually. The rising demand for vehicles on rent gave birth to an innovation where the damage caused during driving would automatically be reported to the respective store where the car has been picked from, without any additional effort made by a man.
Claims Processing Automation
This is one of the automation platform which is already seeing a great benefit in the insurance industry by applying the computer vision. The claims are now processed faster and more efficiently which is the primary source of success of any insurance or car rental company.
The computer vision encomprises of deep learning, the advancement is helping in extricating a clear image, object or damage detection and image segmentation or classification. The quick progress that the companies are making is cranking the game up a notch and we are proud to be a part of it.
Claims filtering in the year 2030 still remains a predominant function of insurance carriers albeit headcount associated with manual claims is reduced by 70–90% compared with the year 2018 levels. — McKinsey Research
We all know that manual errors are more likely to happen in damage detection or inspection as it is not error prone. Automatic Inspection of the vehicle through computer vision is not only faster but is also more reliable and accurate. Computer Vision crawls and collects as much data as possible which helps it in detecting even the slightest damage caused in the part of the vehicle which is not visible to the humans’ naked eyes.
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